Jan 24, 2019

CBRE secures Cubix North refi

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NexGen Housing Partners developed the modular micro units.

CBRE Capital Markets' Debt & Structured Finance team said it secured long-term refinancing for Cubix North Apartments in North Seattle. It has 108 units and 3,380 square feet of commercial space. Jeff Henderson of CBRE represented Daniel Stoner of 1008 Apartments, LLC, the borrower. The $13 million loan is fixed for 10 years. Stoner said, “Building the first modular micro-apartment project west of the Mississippi has been a fun and unique opportunity.” NexGen Housing Partners developed the project at 1008 N. 109th St. NexGen focuses on affordable workforce housing in Seattle.

Kidder Mathews promotes Grainger

Grainger

Mike Grainger, a 25-year commercial real estate veteran, has assumed responsibility for Kidder Mathews' property management for the Eastside and suburban markets. He will be based in Bellevue. He has been with KM for 12 years and overseen more than a million square feet of property. Clients include the Port of Seattle, Nicola Crosby and Lionstone Group.

NAIOP topic: Opportunity zones

NAIOP's Feb. 13 breakfast meeting at the Four Seasons is all about opportunity zones. NAIOP said that there are 8,700 opportunity zones in the U.S. The Seattle zone — from the Central District to the waterfront and south to Georgetown — is ranked fifth highest for investment opportunity by Fundrise.com, NAIOP said. The meeting will look at how these investments are impacting development in the region. Learn what qualifies as an opportunity zone business or investment, how the timing is structured and why the benefits matter. Speakers are Marc Gearhart of Ryan Companies, Eric Kodesch of Lane Powell, Michael D'Onofrio of Engineered Tax Services and Tim Schoultz of Smartcap. Information and registration is at http://www.naiop.org

California firm Mynd acquires Jevons

Mynd Property Management of Oakland, California, a tech-enabled property management firm, said it has entered the Seattle market by acquiring Jevons Property Management. Mynd now manages more than 800 units of multifamily and single-family rentals here. Jevons will be known as Mynd Property Management. Enrique Jevons will run the Seattle office as regional property manager. He has also worked for Hyatt Hotels, Stanford University and Marriott. Mynd said it plans to expand into other states this year.

Symetra

Symetra Life Insurance Co. hired Sharmila Swenson as assistant vice president of public affairs, a new position. Swenson was manager of local government affairs and public policy at Puget Sound Energy. Prior to that, she was relationship development officer at Treehouse and deputy chief of staff for then-Congressman Jay Inslee. Symetra Life provides employee benefits, annuities and life insurance. It is a subsidiary of Bellevue-based Symetra Financial Corp.

WSU

The Association for Information Systems named Washington State University professor Deborah Compeau a fellow. Compeau is professor of information systems in Carson College of Business at WSU. Her research focuses on the interaction between people and information technologies. The award recognizes contributions to the field through research, teaching and service.

AAA Washington

Carolyn Kelly, former Seattle Times president and COO, was elected board chair of AAA Washington in Bellevue. Other new board members are vice chair Greg Bever (retired publisher of Spokane's Journal of Business) and second vice chair Ken Ryals (senior director of public affairs at Microsoft). Kirk Nelson was re-elected president and CEO of the association, which provides roadside assistance, travel services and insurance.

Zones

Dan Pickett is the new president and chief revenue officer at Auburn-based Zones. Pickett was CEO of Zones nfrastructure, a subsidiary that provides IT solutions and managed services. The company also hired Rich Montbriand as senior vice president of digital solutions. Montbriand held sales roles at IBM, Oracle and Cognizant.

Pierce County Superior Court

Commissioner Meagan Foley retired from the bench after more than 30 years at Pierce County Superior Court. Foley was Criminal Court commissioner for the last six years, the longest serving commissioner in that position.